Caixin: Yushu's "dark market" bid is 3 times, private acquisition of new shares is not protected by law

According to Caixin, Yushu Technology has not yet officially gone public, but trading around this popular new stock has already begun in advance. On second-hand trading platforms like Xianyu, there are multiple pieces of information regarding the acquisition and sale of Yushu Technology's new stock subscription rights. Currently, several intermediaries are acquiring this new stock through various channels, with significant discrepancies in pricing. Some intermediaries are offering 520 yuan/share (the issue price is 150.8 yuan/share), while others are quoting 410 yuan/share. Among some investors and intermediary groups, this type of trading is also referred to as "dark trading."

At present, this trading remains a very small-scale activity. Many market participants, including brokers and public funds, have stated that they had not heard of any so-called "dark trading" related to new stock subscriptions on the Sci-Tech Innovation Board before. Its sudden emergence may be related to Yushu Technology's extremely low subscription rate and high expectations for listing gains. The recent private acquisitions of new stocks in the A-share market are based on informal verbal agreements and are not legally protected.